Geyser Brands' Apothecary Botanicals Signs Co-Packing Letter of Intent
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VANCOUVER, Oct. 17, 2019 /CNW/ - Geyser Brands Inc. (formerly Kanzen Capital Corp.) (TSX-V: GYSR) ("Geyser Brands" or the "Company) is pleased to announce that its subsidiary, 0957102 B.C. Ltd. DBA Apothecary Botanicals, is preparing to commence its co-packing and manufacturing operations as a means to grow Geyser Brands' in-house brands, as well as bolster its operations by partnering with third-party consumer-packaged goods brands, to bring cannabis to the mainstream in the health and wellness sector.
Apothecary Botanicals has signed a non-binding letter of intent ("LOI") to enter into a co-packing agreement between Geyser Brands' subsidiary, Apothecary Botanicals, and The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (Frankfurt:YG3), for the production and launch of Yield Growth's Canadian cannabis brand 'Jack n Jane', a line of cannabis-infused products including tinctures, topicals, and capsules.
Apothecary Botanicals has been engaged to manufacture and distribute Yield Growth's 'Jack n Jane' products, combining Yield Growth's proprietary formulations with Apothecary Botanical's cannabis supply, services, facilities, equipment, and required Health Canada licenses for processing and sales. Yield Growth will supply all non-cannabis ingredients, packaging, and design while Apothecary Botanicals will supply cannabis containing THC and/or CBD as required for the various product formulations. The first phase of production is expected to include three tinctures containing THC and CBD, with a goal of coming to market by December 31, 2019.
Apothecary Botanicals CEO, David Eto, commented, "I'm very pleased that Apothecary Botanicals can leverage its manufacturing, formulation, and distribution capabilities to assist Yield Growth expand into the Canadian market. Our in-house expertise in the food & beverage sector will add tremendous value to cannabis brands entering the Edibles market worth an estimated C$2.7 billion annually in Canada alone. Our facilities are GMP-compliant and managed by food sector specialists who understand the importance of food safety and quality. Our business principles are grounded in building a transparent, cost effective, and trusting partnership that will create long lasting business relationships and positive experiences for customers who will consume edibles."
Geyser Brands CEO, Andreas Thatcher, commented, "The goal of Apothecary Botanicals is to deliver innovative formulations and high-quality manufacturing using cannabis as an ingredient. This LOI shows that we are delivering on both. As the new cannabis legislation comes into force, we are scaling our licensed production into beverages, edibles and cosmetics. Our experience in food and beverage, cosmetics, and GMP manufacturing provides a complete platform for brands to enter the Canadian cannabis market."
According to a report by Deloitte, it is estimated that the Canadian market for edibles and alternative cannabis products to be worth C$2.7 billion annually. The report states that 53% of surveyed likely Canadian cannabis consumers are eager to try topicals.
This announcement coincides with Health Canada's official legalization of the production and sale of edible cannabis, cannabis extracts and cannabis topicals effective today, marking the one-year anniversary of the legalization of recreational marijuana in Canada.
About The Yield Growth Corp.
The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF) owns and operates wellness brands Urban Juve, Wright & Well, Jack n Jane and Flourish Mushrooms and has a catalogue of over 200 proprietary beauty, wellness, edibles and beverage formulas at various stages of commercialization. It has filed 12 patents to protect its extraction method and formulas. Urban Juve hemp powered skin care products have been featured in British Vogue, Vanity Fair UK and Elle Canada and Urban Juve has an alliance with leading online beauty community, ipsy. Wright & Well is launching a THC/CBD line of topical products in Oregon and a CBD from hemp topicals line in California this fall. Yield Growth plans to launch a line of edible mushroom wellness products in 2020.
About Geyser Brands
Geyser Brands Inc. is a consumer health and wellness company operating within the Canadian cannabis industry. Geyser's proprietary delivery technologies include all natural nano-technology, slow-release mechanisms, and non-molecule degrading baking processes. The Company provides expertise from conceptual innovation to manufacturing and end-use distribution. Geyser owns a suite of several brands within the consumer-packaged goods market that are offered nationwide at many recognized retailers. Geyser Brands owns a Health Canada approved Licensed Production Facility and operates 15,000 sqft of manufacturing space in two GMP facilities near Vancouver, BC.
For more information, visit Geyser Brands' website at www.geyserbrands.com.
On Behalf of the Board of Directors
"Andreas Thatcher"
____________________________
Andreas Thatcher
Director and CEO
[email protected]
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Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information relating to Geyser is available at www.sedar.com.
SOURCE Geyser Brands Inc.
#330 - 321 Water Street, Vancouver, B.C., V6B 1B8, www.geyserbrands.com, [email protected]
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